• Bank Negara Malaysia’s (BNM) international reserves stood at US$102.8 billion as at May 15, 2019 from US$103.4 billion at April 30, 2019 • Tekun Nasional has channelled business financing worth RM140 million since the beginning of this year until April 30, 2019 • Malaysia's labour productivity grows 2.4 per cent in Q1 2019 • Malaysia's CPI rose 0.2 per cent in April 2019 to 121.1 compared to 120.9 in the same month of the preceding year: Department of Statistics Malaysia

AmBank (M) Bhd is currently in discussion with the Ministry of International Trade and Industry (MITI) to provide technical and monetary assistance to small and medium enterprises (SMEs) under AmBank BizRACE.

AmBank group CEO Datuk Sulaiman Mohd Tahir (picture) said the discussion, which is still at the initial stage, also involves several other companies from technology, infrastructure and telecommunications sectors.

“The AmBank BizRACE is an entrepreneurship challenge aims at providing SMEs with access to knowledge sharing and development training sessions that cover leadership development and improvement in business models, as well as system and structure, and culture transformations.

“We hope to be able to complete the discussion within the year,” he told a press conference after launching the inaugural Ambank BizCONFERENCE Beyond Financing Series entitled, “Embracing Internet of Things” in Kuala Lumpur yesterday.

Sulaiman said under the proposed collaboration, MITI is to identify SMEs with potential to scale up by venturing into imports and exports, while AmBank will provide technology and connectivity such as the Internet of Things (IoT) assistance.

AmBank BizCONFERENCE Beyond Financing Series is aimed at providing SMEs with an understanding of crucial topics related to IoT, as well as a way to bring forth the needs of SMEs.

Sulaiman said there would be three more sessions with each covering different key point namely green business, halal business, and branding and marketing.

“The series also serves as a networking platform for the SMEs community, bringing together business owners, subject matter experts and captains of industries,” he added.

Earlier in his speech, Sulaiman said the bank aims to strengthen its position further while doing more to help SMEs grow and succeed by equipping them with relevant knowledge and solutions required to face future challenges.

“It is clear to us at AmBank, if we want to ensure that Malaysia’s economy grows, we must invest in our SMEs and it must go beyond providing them with financial assistance.

“AmBank is keen to do our part by forming a dedicated panel of experts on IoT to help SMEs focus on what they need to do to accelerate IoT adoption in terms of execution and implementation,” he said. — Bernama